Revenue Foreign Exchange Rates: 2012 Tax Returns

If you have income denominated in currencies other than Euro, you may wonder which exchange rate you should use when preparing your tax return and calculating your liability.

Revenue have just published their official exchange rates for a range of currencies for 2012, based on Central Bank rates.

These are as follows, along with  the corresponding rates for earlier years.

Average Market Mid-Closing Exchange Rates v. €
2009 2010 2011 2012
Australian dollar 1.7727 1.4423 1.3484 1.2407
Canadian dollar 1.5850 1.3651 1.3761 1.2842
Danish krone 7.4462 7.4473 7.4506 7.4437
Japanese yen 130.34 116.24 110.96 102.49
Norwegian krone 8.7278 8.0043 7.7934 7.4751
Pound sterling 0.8909 0.85784 0.86788 0.81087
Swedish krona 10.6191 9.5373 9.0298 8.7041
Swiss franc 1.5100 1.3803 1.2326 1.2053
US dollar 1.3948 1.3257 1.3920 1.2848

These rates apply to all trading, rental, employment, investment and other income denominated in non-Euro currency.

Lloyds Accounts

A separate rate applies for conversion of Lloyds Account amounts from sterling to euro. This is based on the sterling mid-closing rate on the last market day of each  calendar year, as per the Central Bank. The rate for 2012 is Stg £1 = €1.22534.

The newly-published Revenue eBrief publishing these details is here.

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